Funding

  • Every member of the society shall pay annual due(s) proposed by the Council and ratified by the Annual General Meeting (AGM).

  • Donation from individual/group or corporate bodies.

  • Sales of our journal, notices and other publications of the Society.

 

INVESTMENT OF THE SOCIETY’S FUNDS

The funds of the Society not required for immediate use shall, on the direction of the Council, be invested in the name of the Society in such public stocks, government securities or other funds as the Council may deem fit provided that at least 60 per cent of the funds shall be invested in gilt-edged securities.

 

SIGNATORIES

Any two of the following officers of the Society: the President, the Secretary and the Treasurer shall be signatories to the bank accounts of the Society.

 

MORE ON THE SOCIETY’S FUNDS

 

  • The funds of all Local Organizing Committees of the Society shall be the property of the Society and nothing in any Article(s) shall prejudice the right of the Council to institute proceedings to recover any money due to, or any property of the Society.

  • All properties acquired by Local Organizing Committee, in whatever custody, and of whatever nature, shall belong to the Society.

  • The AGM or the Council, acting on behalf of the members, shall have power to employ the funds of the Society in such a manner as may be found necessary and expedient and report back to the AGM.

  • The funds and properties of the Society shall be applied for the purpose of attaining the objectives of the Society as defined in this Constitution.

  • The main sources of funds of the Society shall be annual dues, subscriptions, levies and proceeds from journal sales, social activities and donations.

 

LEVIES

  • The Council may, if it considers it necessary impose levies on all members of the Society, which the members shall be required to pay forthwith.
  • The Funds of the Society which the members are required to contribute under any rules, whether by way of subscription, dues or otherwise, shall not be applied (whether directly or indirectly) to the furtherance of any political party or religious interest.
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